I don't have any clue on the damage at Suzuka but I wouldn't say no to the fact that 7 mounths would be quite tight to build a track and then organize a race.
I don't belive there would be much suport of building a track after what have happened all around Japan there for 7 months wouldn't be enough time to rebuild Suzuka.

It's only a few kilometers from the coast, but it's not near the hardest hit areas and it seems reasonable to me that there would be at least some protection from Ise bay so I'll hold out optimism that the race is not in jeopardy. Unfortunately I've heard other well known tracks have sustained damage but I haven't confirmed it for myself. Either way the tragedies and ongoing dangers are going to mount.

The track is near Nagoya AFAIK, a few hundreds kilometers to the south of Tokyo. I seriously do not think region was touched at all by the tsunami. And the damage sustained by the quake itself must be minimal, you can clearly see that the damages in Tokyo aren't THAT much important, though being a lot closer to the epicenter.

Brendan, I've done some researchs, and I think it's a fair bet to assume that Sugo was touched massively, as it is located in Sendai's region. Hard to say for sure for most of the others well known tracks, most of them are a lot further from the epicenter.

if the F1 race will continue in japan(2011) I'm thinking that some of the money they can earn will be going into donations. if the track isn't that badly damage they should continue it to bring in funds to help those who are in need.